Nope, I don't do any lending.
Customers have been worried to invest because of the credit burst and the shaky economy (expecially in Michigan) right now. Most don't care what
the fed does, as long as they do something
and people can see what direction they're heading in. You have to remember that most of these people invest with way too much emotion and don't realize that no matter what happens markets always rebound.
As a nice side effect, CD rates are going down which makes my fixed income options look much better.
A customer yesterday liquidated his IRA (about 350k in it) and bought a CD ladder. Stupid move
for sure, but some people just don't get it. He didn't like "what the market is doing" and thinks he's better off tying it up in some BS savings account that earns crap for interest. Most of it was a 10 year term! You just can't save some people from themselves...
On the lending side, it will take a bit of time before we see the fed's cut affect our retail lending rates. It will happen, just not real quick.